alt Hacker NewsIf all jobs are taken away for the sake of robot driven productivity, who will consume the products and services being offered that result in profit?!
(EDIT: I am not against AI at all, just trying to understand where this all leads)
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Right? Unless we've figured out Star Trek Welfare, who is buying anything when 50% of the population is unemployed and wages have crashed for the other 50% because of biblical levels of unemployment.
Other bots. The sequel to "don't build the torment nexus" is "don't make dead internet theory a reality"
Those wealthy enough to own (shares in?) the robot factories.
what happens to labor markets in places like India if robots are able to accomplish that would have ordinarily required 5 manual labors at a fraction of the cost say (1/100th)?
Be afraid. Be very afraid.
basically, that is the question of wealth distribution. All the wealth created by these AI companies should be distributed to people so that they will have money to buy products from these companies. This can range from more taxes, UBI, or like Marx said: seize the means of productions (basically nationalize all these AI companies and share the profits to everyone)
It can be anything from fully automated luxury communism, to fully automated dystopian communism.
From https://en.wikipedia.org/wiki/Fully_Automated_Luxury_Communi...
Don't discount that tech billionaires pursuing this are themselves nihilistic. They would enjoy the fruits of our labor and will not care what comes after they die.
Please, don't ask logical questions.
Currently, in the US the top 10% of earners are responsible for approximately half of all consumer spending. If AI causes this trend to continue and accelerate, I expect that we'd see similar dollar amounts of consumer spending, but it would be concentrated mainly in the people whose income comes from capital investments rather than from working for wages. Basically you'd see a situation like this: https://www.youtube.com/watch?v=snsXD6FwLYc